RUTHERFORD, N.J., April 30, 2025 (GLOBE NEWSWIRE) -- Blue Foundry Bancorp (NASDAQ:BLFY) (the “Company”), the holding company for Blue Foundry Bank (the “Bank”), today reported a net loss of $2.7 million, or $0.13 per diluted common share, for the three months ended March 31, 2025, compared to net loss of $2.7 million, or $0.13 per diluted common share, for the three months ended December 31, 2024, and a net loss of $2.8 million, or $0.13 per diluted common share, for the three months ended March 31, 2024. J ...

Hilltop (HTH) Q1 2025 Earnings Call April 25, 2025 09:00 AM ET Company Participants Matthew Dunn - Corporate Development Officer & Head of Investor RelationsJeremy Ford - President and Chief Executive OfficerWilliam Furr - Executive VP & CFOWoody Lay - Vice PresidentTim Mitchell - Equity Research AssociateJordan Ghent - Senior Research Associate Conference Call Participants Andrew Gorczyca - Research Analyst Operator morning, ladies and gentlemen, and welcome to the Hilltop Holdings First Quarter twenty twe ...

Financial Data and Key Metrics Changes - Net interest income increased to $160.5 million, up $1.8 million from the prior quarter, driven by lower deposit costs and investment portfolio restructuring [12][7] - Total loans declined by $115 million or 0.8% from the prior quarter, primarily due to commercial real estate loans [9] - Total deposits slightly declined, with retail deposits increasing by $105 million while commercial deposits fell by $167 million [10] Business Line Data and Key Metrics Changes - Noninterest income was stable at $50.5 million, while noninterest expenses were $123.6 million, with no significant nonrecurring items [14] - The bank maintained strong credit performance, with classified assets decreasing by $3 million and year-to-date net charge-offs at $3.8 million [15][16] Market Data and Key Metrics Changes - The statewide unemployment rate remained stable at 3%, compared to the national rate of 4.1% [6] - Visitor arrivals increased by 1% and spending rose by 4.5% compared to 2024 levels, with Maui seeing the largest increases [6] Company Strategy and Development Direction - The company remains well-capitalized with ample liquidity and plans to continue supporting customers while managing expenses [8][7] - The management is focused on maintaining strong relationships with customers and is optimistic about loan growth despite market uncertainties [24][63] Management's Comments on Operating Environment and Future Outlook - Management noted increased uncertainty in the macroeconomic environment but remains optimistic about opportunities for growth [24][63] - The company is closely monitoring the impact of tariffs and economic conditions on its loan portfolios, particularly in the consumer and commercial sectors [68][70] Other Important Information - The bank repurchased approximately 974,000 shares at a total cost of $25 million, with $75 million remaining under the 2025 stock repurchase plan [8] - The allowance for credit losses increased to $166.6 million, reflecting a more pessimistic economic forecast [17] Q&A Session Summary Question: Insights on loan performance and economic pulse - Management indicated that average loans for the quarter were up over Q4, with a strong pipeline despite some uncertainty in the market [23][24] Question: Competitive landscape on deposit costs - Management expressed confidence in further reducing deposit costs as rates decline, but noted limited room for significant reductions beyond current levels [26][32] Question: Expense trajectory and investment plans - Management reiterated guidance for expenses and indicated a commitment to investing in the business while remaining cautious about the economic outlook [36][38] Question: Allowance for credit losses and consumer exposure - The increase in the allowance was driven by the economic forecasting model, with management noting stable performance in the consumer portfolio [42][94] Question: Impact of tariffs on loan portfolios - Management is closely monitoring the impact of tariffs on various loan portfolios, particularly in the C&I sector, but has not observed significant concerns yet [68][70] Question: Margin outlook and rate cuts - Management indicated that the ability to offset rate cuts will depend on loan growth, with potential for margins to remain stable if growth is strong [80][81]